BlackedgeFx System is a forex trading system. This forex trading system is very beneficial to the scalpers. The accuracy rate of BlackedgeFx System is very high. It is a trend following system. You should keep in mind that even the scalping systems can be trend following. The trend exists in a minute time frame as well and BlackedgeFx System allows you to trade in the direction of that trend. The renko chart is used in this forex trading system. Renko charts evolved from the Japan. The renko bars are price sensitive only. Renko bars ignore the time factor. Another brick in a renko chart forms only when the price travels specified price distance.
Since you are actually scalping when trading with this forex trading system, you should carefully watch the economic calendars. You should avoid trading during the heavy weight news releases. The unexpected fundamental events can hurt scalpers badly. And be wise enough to trade the pairs that have comparatively less spreads. Spreads are the greatest enemy of the scalpers.
The BlackedgeFx system is a simple trading system. However, high level of discipline is required to master any trading system. You can do profitable trading only when you can master the trading system. When the BlackedgeFx System is correctly loaded on your trading platform, your chart should look like this:
- Renko chart
You should be buying only when the renko chart forms white bars and you should be selling only when the renko bars form red bars.
ScalpCycleis a custom made technical indicator which is designed for the scalpers. This indicator consists of histogram that moves in the range of 0-100. When the silver color arrows form in the ScalpCycleindicator, it’s a buy signal and when you see red arrows in ScalpCycle, It’s a sell signal.
Buying Conditions Using BlackedgeFx System.
- The Renko chart should form white bricks.
- The ScalpCYcleindicator should form silver color arrows.
- Place your long position when the above conditions are met.
- Place your stop loss just below the recent swing low.
- Take your profit when the ScalpCycleindicator forms red arrows.
Selling Conditions Using BlackedgeFx System.
- The Renko chart should form red bricks.
- The ScalpCYcleindicator should form red color arrows.
- Place your short position when the above conditions are met.
- Place your stop loss just above the recent swing high.
- Take your profit when the ScalpCycleindicator forms silver color arrows.
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